Information to have on hand
To help us review your cyber insurance request efficiently, it is useful to have a clear picture of how your business protects systems, accesses data, and manages personal or confidential information.
Basic business information
- Your desired effective date
- The name of your current insurer, if your business is already insured
- Your current insurance policy, if you have one
Cybersecurity and privacy information
- Whether multifactor authentication is used, and for which systems or services
- Whether remote access, VPN, or virtual login tools are used to access systems or services
- The type of personal, employee, client, or confidential business information your organization stores or processes
- Whether sensitive information includes items such as social insurance numbers, home addresses, dates of birth, payroll information, financial information, or client records
- Whether laptops, cell phones, tablets, or other portable devices can access sensitive information and could create exposure if lost or stolen
The more information we know, the more our brokers can help position your request clearly with the surety market and support the quote process for your specific situation.
What is cyber insurance for businesses in Quebec?
Cyber insurance is designed to help businesses address certain financial, operational, legal, and reputational consequences of a cyber incident or cyberattack. However, the policy’s terms, conditions, limits, exclusions, and deductibles apply.
Cyber threats are also becoming more frequent and more convincing. Businesses now face attacks that can involve ransomware, compromised passwords, fraudulent emails, AI-generated messages, voice impersonation, supplier impersonation, unauthorized access to systems or data, and interruptions to the digital tools or connected equipment they rely on to operate. Situations that may create cybersecurity, AI-enabled fraud, and business interruption risks.
To learn more about cyber insurance for your business in Quebec, contact a La Turquoise broker by phone or email.
- A cyberattack that allows unauthorized access to systems, accounts, or data.
- An email, text, or AI-generated message designed to obtain confidential information, credentials, or payment instructions.
- Fraudulent instructions that impersonate a manager, employee, supplier, client, or trusted business contact.
- Voice, video, or written impersonation that uses AI to make a fraudulent request appear more credible.
- Malware that blocks access to internet-connected tools, equipment, or systems that rely on over-the-air updates and are essential to business operations.
- An intrusion into computer systems that affects the organization’s activities.
- A data breach or theft involving confidential business, employee, or client information.
- A business interruption caused by a cyber incident affecting computer systems, digital infrastructure, connected equipment, or access to essential business tools.
- A cyber-attack or privacy breach situation that may have an impact on the business’s reputation.
These risks are not limited to large organizations. Automated attacks, AI-assisted phishing, password compromises, and supplier impersonation can affect any business. These attacks can affect businesses that use email, cloud services, online banking, connected equipment, or client data.
Evaluating these risks can help businesses understand how a cyber incident or impersonation attempt could affect operations, privacy obligations, payments, reputation, business continuity, and insurance needs.
What coverages are generally associated with cyber insurance for businesses?
This coverage may respond when a claim alleges that a data breach, privacy incident, or security failure caused harm involving personal or confidential information.
- Unauthorized disclosure of data: exposes information held by your clients or partners.
- Unauthorized access to systems: raises issues related to the management of personal information.
This coverage may help with certain direct costs following an incident affecting data, networks, or computer systems, such as response coordination, investigation, remediation, notification, and recovery expenses, depending on the policy wording.
- Incident management: mobilizes specialized resources after a breach.
- Internal corrective actions: allow you to restore your technology environment.
Some cyber policies may address claims, incidents, or circumstances linked to activity that began before the current policy period, provided the policy’s retroactive date, prior-knowledge rules, exclusions, and reporting conditions are satisfied.
- A cyber incident, unauthorized access, vulnerability, or data exposure may have started before the current policy took effect.
- You change insurers without creating a gap in cyber coverage, subject to the new policy’s retroactive date and continuity requirements.
- Without proper continuity, a prior or ongoing cyber event discovered later could fall outside the current policy.
This coverage may apply when a covered cyber incident temporarily prevents your business from using its computer systems, subject to the waiting period, limits, indemnity period, and policy wording.
- System access interruption: slows down or interrupts day-to-day operations.
- Forced shutdown of activities: complicates business continuity.
Cyber insurance has limits and exclusions. Coverage can vary by insurer and may not apply to deliberate acts, certain fines or penalties, known circumstances, uninsured service failures, or events outside the scope of the policy.
- A deliberate act does not qualify for coverage.
- Privacy or regulatory follow-up may still be required after a breach.
- An incident outside the scope of cyber insurance may fall under different coverage.
Why work with a broker for your cyber insurance?
Cyber insurance requires a clear understanding of how your business uses technology, manages information, controls access, and responds to incidents.
A broker can review your operations, digital tools, data practices, and insurer requirements to help identify where a cyber incident could disrupt your activities or expose confidential information.
A broker can also help you compare cyber insurance options, prepare the information insurers need, and adjust your coverage as your tools, controls, and business activities evolve.
Contact us for a quote
Frequently asked questions about cyber insurance for businesses
Cyber insurance addresses certain consequences of an incident affecting your computer systems, networks, connected equipment, or data. It is part of a broader cyber risk management approach and can complement existing coverage when your business relies on digital tools or systems to operate.
Cyber insurance for businesses in Quebec can help address certain consequences of a cyber incident or event involving computer systems, networks, connected equipment, digital data, or operational downtime.
- Ransomware: blocks access to your files and prevents the use of your software.
- Malicious software: stops or slows down your systems and disrupts your operations.
- Loss of access to data: complicates the day-to-day management of your business.
It can be part of a broader cyber risk management approach for businesses in Quebec, alongside preventive controls, incident response planning, and sound data management practices.
A small or medium-sized business in Quebec can be exposed to cyberattacks as soon as it uses email, software, online accounts, connected tools like laptops or phones, or client data.
- A phishing or AI-generated message imitates a supplier, client, manager, or employee and may lead to unauthorized access or fraudulent instructions.
- A compromised password: gives access to your computer systems.
- Human error: leads to opening a fraudulent link or sending information or money to the wrong recipient.
These attacks are often automated, increasingly convincing, and not limited to businesses that believe they are obvious cyber targets.
General liability insurance for businesses does not always cover cyber risks related to computer systems or client data.
- A loss of client or employee data: can trigger privacy obligations and may not be addressed by standard liability coverage.
- A leak of confidential information: can create response, notification, reputational, or legal consequences beyond traditional coverage.
- A cyberattack with no physical damage: may still interrupt operations or create costs that traditional insurance may limit or exclude.
Cyber insurance can complement existing protections by addressing exposures that traditional general liability or property insurance may limit or exclude.
A cyberattack can disrupt your operations and require quick action to assess the situation.
- Unauthorized access to systems: can disrupt operations, expose sensitive information, or block access to the tools your team needs to work.
- A loss of client or employee data: can trigger privacy obligations, damage trust, and complicate business relationships.
- An interruption of computer systems: can stop orders, billing, service delivery, production, or other essential business activities.
The response depends on the type of incident, its impact on your activities, the information affected, and the services or coverages included in your policy.
Choosing cyber insurance depends on your tools, your access points, and how you manage your data.
- Remote work: multiplies the access points to your computer systems.
- The volume of client or employee data on file: increases confidentiality risks.
- Daily email and online account use: exposes your business to phishing, impersonation, compromised credentials, and fraudulent instructions.
A broker can review these elements and help you compare cyber insurance options suited to your risk profile and insurer requirements.
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